James H. Litinsky Sells 199,180 Shares of MP Materials Corp. (NYSE:MP) Stock

MP Materials Corp. (NYSE:MP) CEO James H. Litinsky sold 199,180 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $27.08, for a total value of $5,393,794.40. Following the transaction, the chief executive officer now owns 13,643,076 shares in the company, valued at $369,454,498.08. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

MP Materials Trading Down 4.9 %

NYSE:MP opened at $26.24 on Friday. The firm has a 50 day moving average of $24.64 and a 200 day moving average of $21.13. The company has a quick ratio of 6.13, a current ratio of 6.93 and a debt-to-equity ratio of 0.88. MP Materials Corp. has a 52 week low of $10.02 and a 52 week high of $29.72. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -44.47 and a beta of 2.24.

MP Materials (NYSE:MP) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.99 million during the quarter, compared to analyst estimates of $50.71 million. As a group, sell-side analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MP. BMO Capital Markets raised their price target on MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. DA Davidson boosted their price target on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.61.

Hedge Funds Weigh In On MP Materials

Hedge funds have recently modified their holdings of the stock. JT Stratford LLC grew its position in MP Materials by 0.7% during the 4th quarter. JT Stratford LLC now owns 63,685 shares of the company’s stock worth $993,000 after purchasing an additional 424 shares during the last quarter. Captrust Financial Advisors increased its position in shares of MP Materials by 5.0% in the 3rd quarter. Captrust Financial Advisors now owns 11,734 shares of the company’s stock valued at $207,000 after acquiring an additional 557 shares during the period. Envestnet Asset Management Inc. raised its stake in MP Materials by 3.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company’s stock worth $322,000 after acquiring an additional 662 shares during the last quarter. Quadrant Capital Group LLC grew its stake in MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $38,000 after purchasing an additional 701 shares during the last quarter. Finally, SWS Partners increased its holdings in shares of MP Materials by 0.4% in the fourth quarter. SWS Partners now owns 162,503 shares of the company’s stock valued at $2,535,000 after purchasing an additional 707 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

MP Materials Company Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.